The S5, in my personal opinion, is still the best camera for high school and elementary school photography. Why, because I can shoot the camera JPEG and get great pictures. I would not dare to shoot my D700 or D800 JPEG for my underclass packages. I use the Fuji software and shoot connecting the camera directly to a laptop. It works great, taking about 4 seconds for the picture to pop up on the computer. This is more than fast enough as it gives me time to look at the picture just taken and getting ready for a second shot. I usually shoot about 350 kids a day.

I have also attached a couple of pictures to this thread, one taken at a school and a second taken in the studio.

Ops, I seem to have posted three pictures. Anyway, I still use the S5 in the studio for individual senior photography. There is no need to shoot RAW if you have the right exposure and CWB. I have to shoot the Nikon's NEF as their Jpegs look terrible compared to the S5.
respectfully,
David Miller